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OPM (other people’s money)

Ever heard the phrase “No man is an island”? It applies in business as well as in life. Everyone needs to depend on someone else at some point or another, especially when it comes to money. By being open to this, business owners can be part of a win-win situation.

Branding

When businesses are initially getting off the ground, they often have to depend on other people’s investment money to fund the development of their idea, open an office or produce a product. Some businesses considering bartering (trading) as a solution for getting the products or services they need without having to pay. For example, an ad agency may do free advertising for a restaurant, in exchange for catering or meeting space for their company events.

Other times, brands can increase their visibility and revenue by partnering with someone who is an expert within their industry or niche. eVolution brands helped an entrepreneur partner with a local motorcycle refurbishment company who had a great quality end-product, but no time or resources to sell excess parts. We recognized this as an opportunity, approached them with a mutually beneficial plan, and worked out a deal to buy excess parts and sell them online. The revenue was split 50/50, which meant more income for both parties, with minimal involvement or effort on either side.


Business Model & Blueprint Analysis

Sometimes, all we have to do is recognize the opportunity. Leveraging a little time, effort and can do spirit can go a long way in creating something so special out of little more than connecting the dots. Existing business owners can benefit from accepting such an opportunity to expand there business without the spending any upfront money, as long as the conditions are mutually favorable and clearly negotiated up front. This creates a win, win business expansion for both parties.